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Makeup, millennials drive Estee Lauder sales surge

Estee Lauder CEO Fabrizio Freda says he expects the Asia business to grow further, benefiting from the recent launch of MAC cosmetics on Lazada, an online shopping platform owned by Alibaba.

PHOTO: REUTERS

Bengaluru

ESTEE Lauder shares hit a record high on Wednesday after the cosmetics maker forecast holiday-quarter sales ahead of market expectations, banking on demand for recently acquired makeup brands that are popular with millennials.